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REGISTERED NUMBER: 06273985 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

TECHNIC ENGINEERING LIMITED

TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TECHNIC ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: Mrs J P Mann
I R Mann
Miss Z L Mann





SECRETARY: Miss Z L Mann





REGISTERED OFFICE: 32 The Square
Gillingham
Dorset
SP8 4AR





REGISTERED NUMBER: 06273985 (England and Wales)





ACCOUNTANTS: Andrews and Palmer
Chartered Accountants
32 The Square
Gillingham
Dorset
SP8 4AR

TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,000 30,000
Tangible assets 5 153,437 176,985
177,437 206,985

CURRENT ASSETS
Stocks 98,922 97,567
Debtors 6 375,613 154,257
Cash at bank and in hand 288,996 329,619
763,531 581,443
CREDITORS
Amounts falling due within one year 7 172,955 100,399
NET CURRENT ASSETS 590,576 481,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

768,013

688,029

PROVISIONS FOR LIABILITIES 38,359 40,866
NET ASSETS 729,654 647,163

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 728,654 646,163
SHAREHOLDERS' FUNDS 729,654 647,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)

BALANCE SHEET - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





Mrs J P Mann - Director


TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Technic Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 5% on cost and 25% or 15% reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are measured at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 120,000
AMORTISATION
At 1 July 2022 90,000
Charge for year 6,000
At 30 June 2023 96,000
NET BOOK VALUE
At 30 June 2023 24,000
At 30 June 2022 30,000

TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 631,746
Additions 9,045
At 30 June 2023 640,791
DEPRECIATION
At 1 July 2022 454,761
Charge for year 32,593
At 30 June 2023 487,354
NET BOOK VALUE
At 30 June 2023 153,437
At 30 June 2022 176,985

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 364,005 145,174
Other debtors 11,608 9,083
375,613 154,257

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 16,901 20,783
Taxation and social security 138,520 49,284
Other creditors 17,534 30,332
172,955 100,399

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 7,598 8,463
Between one and five years 6,322 13,920
13,920 22,383

TECHNIC ENGINEERING LIMITED (REGISTERED NUMBER: 06273985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
1,000 Ordinary 1000 1,000 1,000

10. RELATED PARTY DISCLOSURES

The company rents one of its trading buildings,owned by one of the directors Mrs J P Mann, at an annual rental of £12,000. At the balance sheet date no amount was outstanding.